Google's YouTube online video site has launched a new live streaming functionality, allowing its partners to broadcast live events over the web to potentially huge audiences.

Last Friday, YouTube announced the launch of YouTube Live, integrating the live streaming capabilities it has been introducing to the site over the past year.

The service, at Youtube.com/live, will offer a range of the "most compelling live events", including concerts, sporting events and interviews.

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YouTube Live will initially be made available under a beta, allowing YouTube partners with "accounts in good standing" to sign up and stream live content on the site. Eventually, YouTube wants to give "thousands of partners" a platform to stream live events from their channels.

The company has previously launched one-off live video streams, including an interview with US president Barack Obama and a concert by U2 in California.

Thomson Reuters is understood to be among the companies testing YouTube Live, while Stanford University is also experimenting with the service.

Live sport is expected to be one of the big drivers for YouTube's live streaming service, largely because it can command big enough audiences to attract advertisers.